WASHINGTON – President Donald Trump acknowledged Wednesday that his rates could result in fewer and more expensive products in the United States, saying that American children will “have two dolls instead of 30 dolls,” but he insisted that China will suffer more from his trade war.
During a cabinet meeting in the White House, Trump concentrated on China's trade surplus with the US, the Chinese, he said, “a huge effort because their factories do not do business”, adding that “much of it do not need.”
“You know, someone said,” Oh, the shelves will be open, “Trump continued and offered a hypothetically.” Well, maybe the children have two dolls instead of 30 dolls. So maybe the two dolls cost a few dollars more than usual. ”
The comments came when the president was asked if he had spoken with the Chinese leader Xi Jinping about trying to find an off-disaster for the trade war between the two countries that have been fueled by different rates of Trump. Trump did not answer the question.
American retailers have received the alarm that Trump's rates at the import from China can significantly influence the availability and prices of some goods later this year, including costumes for Halloween and lots of toys for Christmas. American companies say they don't have enough time to move production before consumers experience scarcity and higher prices.
Trump has quickly tried to blame matte economic data for his democratic predecessor, Joe Biden.
The government reported that the US economy during the first three months of the year with an annual percentage of 0.3% Kromp. Behind the decline was an increase in imports when companies tried to lead the swept rates on cars, steel, aluminum and almost every country. And even positive signs of increased domestic consumption indicated that purchases could take place before the input loads lead to price increases.
Trump pointed to Biden with his finger when the stock market fell on Wednesday morning in response to the gross domestic product report.
“This is the stock market of Biden, not Trump's,” posted the Republican president, who took office on his social media site in January. “Rates will soon start to enter into force and companies will start moving to the US in record numbers. Our country will lose an increase in the Biden 'Overhang'. This takes a while, has nothing to do with rates.”
But the GDP report gives Democrats ammunition to claim that Trump's policy could push the economy into a recession.
“Trump is already 100 days in office and costs, chaos and corruption are already increasing,” said Senator Jeff Merkley, D-OORE. “The economy slows down, prices are rising and families from the middle class feel squeezing.”
The report landed then Trump tries to focus on new business investments in the US while spending the week celebrating his 100th day at the office. He planned comments on this subject later in the day.
Trump's economic message contains some clashing arguments and rejects data that increases red flags.
He wants credit for an aggressive first 100 days ago in the White House, including massive fired from federal employees and the start of a trade war by 145% in new rates against China. He also wants to blame Biden's negative reaction of the financial markets, who left his office months ago. He also says that his rates negotiate aids to generate trade agreements, but at the same time banking with hundreds of billions of dollars in tariff income to cover his planned reduction of income tax.
Trump emphasized the positive aspects of the GDP report during the cabinet meeting. But that session revealed how his administration also tries to credit for policy that concerns the Biden administration.
Commerce Secretary Howard Lutnick spoke about his recent trip to Arizona for the computer chip factories of the Taiwan Semiconductor Manufacturing Co. to see. The company notes on its website that the plans announced in May 2020, during the first term of Trump, when the Coronavirus Pandemie disrupted the world economy to build its first factory in Arizona. The company announced a second factory in December 2022, when Biden was in office. After receiving up to $ 6.6 billion in obligations in 2024 from the Bipartisan Chips and Science Act, TSMC announced plans for a third factory.
Trump rejected the importance of the government support that Biden made possible for computer chip factories to open in his own country.
“They are building because of the rates,” said Trump.
When asked about his rates that cause inflation, Trump told ABC News in a Tuesday interview that the economy would eventually have imploded if he did not impose an import tax on allies, including the European Union, Canada, Mexico, Japan, South Korea and India.
“Everyone is fine,” Trump assured.
The statements of Democrats after GDP report noted how quickly the economy, which still has a healthy unemployment rate of 4.2%, seems to lose within a few weeks of returning Trump.
“In just 100 days, President Trump brought the American economy from a strong, stable growth to negative GDP,” says Heather Boushey, a former member of the White House of the White House of Biden Economic Advisors. “This amazing turn of Fortuin is directly due to the incoherence of his economic policy and his maladministration of federal policy in general.”
But trade advisor Peter Navarro of the White House told reporters that the GDP decrease was a “one-shot deal” because of the increased import, that mathematical deduction of the benchmark for economic activity. Navarro said that Trump planned by Trump would help the individual and business income tax growth in the coming months.
“The only thing we see is good, strong news,” said Navarro. “So the idea that a recession is coming must be heavily discounted.”
This article was generated from an automated feed from the news agency without changes in text.
